Direxion Daily S&P 500® Bear 3x Shares: A Bullish Divergence
Trading Central | Jun 14, 2013 02:28AM ET
From a technical view, the ETF has broken above the upper boundary of a bearish channel. Regarding technical indicators, the daily RSI has pushed above a bearish trend line and has validated a bullish divergence. On a relative basis against the S&P500, the Direxion Large Cap Bear 3X Shares is above its 20-day moving average which is reversing up.
Trading strategy: Buy at $10.59 - Stop loss at $10.10 - Target at $12.1.
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